Buy Jewellers Insurance in Canada 
                     Fine Art, Jewellery and 
Specie
Introducti
oThne Jewellers Block insurance policy was originally developed at Lloyd's of 
London in the  late 1880's by a diamond merchant's clerk named Thomas 
March. Mr. March, who was  concerned at the inability of his employer to 
obtain insurance against theft, was friendly  with one of the leading Lloyd's 
Underwriters of the day and between them they devised  the first Jewellers 
Block policy.
CHES Special Risk has one of the leading MGA teams specialising in Jewellery, 
Fine Art  and Specie, in Canada.
We have global expertise providing clients with innovative programs and 
customised  solutions with integrated placement, administration and 
claims services, and our  Underwriters at Lloyd’s of London are exclusive 
to us.
We have a team specialist Team of people focusing on the class, so we are 
able to offer  a wide range of knowledge and with a large team are able to 
provide a high level of  service to our clients.
As one of the largest MGA’s, we have the necessary buying power to enable 
us to meet  our clients’ needs.
Areas of 
Expertise
CHES Special Risk are able to offer a flexible approach and offer specially 
structured and  creative insurance products based on international terms for 
the following sectors:
• Fine Art
• Jewellery Retails, Wholesalers and Manufacturers
• Diamond and Gemstone dealers
• Precious Metals and Gemstone mining operators
• Armoured Car and Cash/Valuables in transit
• Cash and Valuables in vault
• Reinsurance Programs and Treaties
• Captive Programmes
Client 
Base
Our client base emanates from all aspects of the SPECIE Market, from Art 
Galleries,  Jewellery Stores, Furriers, to Pawn Brokers with high valued 
precious gems and Metals,  and armoured car delivery of high value items.
We have recently seen an evolution in the PAWN Broker business which is 
now buying  and selling high value designer items such as hand bags and 
leather goods.
CHES Special Risk has kept pace with these changes and met demand with 
a tailored
policy that responds to the demands of the market.
Don’t just think of this Type of coverage only responding to the high valued 
items,  because the policy covers furniture, fixtures, Fittings, office 
equipment, show cases,  glass, a true ‘Tenants’ policy, which can also be 
extended to cover CGL, and Electronic  Breakdown
Fine 
Art
Fine Art encompasses a wide range of collectible items, from paintings and 
sculptures to  glassware, antiques and coins.
Our client base includes:
• Museums
• Private and Corporate Collections
• Fine art Dealers
• Shippers and Packers
• Auctioneers
• Antique Dealers
• Coin Collections and Dealers
• Stamp Collections and Dealers
• Exhibitions
Fine Art – Scope of 
Coverage
CHES Special Risk have a number of wordings which are designed for 
different  proposes. Generally, these are on an All Risks physical loss or 
physical damage basis,  including depreciation with a number of exclusions, 
for example:
• Losses sustained whilst the art is being worked upon, for example, 
whilst being  repaired
• Wear, tear and gradual deterioration
• Consequential loss
• Radioactivity
• Earthquake
• War
• Terrorism
Fine Art – Extension to Cover 
and  Other coverages
In addition to the standard coverage, insurers are often prepared to extend 
coverage or  place a separate contract to include:
• Earthquake
• Terrorism
• Furniture, Fixtures and Fittings of the Gallery or Museum
• Transit of the Fine Art
• Defective Title
• Professional Indemnity
• Agreed value of pair of items, when one of
pair or set is lost or damaged
• War whilst the interest is in transit
• First loss coverage basis
• Contingent coverage
• Difference in Conditions or Limits
Fine Art – Underwriting 
Requirements
Whilst not a complete list, the basic information underwriters will need 
to consider  whether or not to accept the account and if so under what 
conditions and premium  includes;
• Type of business, for example, Museum, Private Collection or Dealer
• Items to be insured – schedule of items which should include brief 
details of each
item, the value and nature (fragile or non-fragile)
• Location(s) – where are the items located, are any items displayed 
outside or in  basements
• Security details – protections against fire and theft
• Area – is the area liable to flood, is it in an earthquake zone
• Occupancy of location – is the property ever left unoccupied for a 
period of time
• Is coverage required for transit – how is it shipped, packed and what are 
the annual  values shipped, who is the shipper
• Deductible
• What basis should claims be paid on – Agreed Value or Cost Price
• Level of coverage / wordings to be used
• Claims record for five years
Fine Art – Exhibitions and Fine Art 
Fairs  Underwriting Information
Over the years, the Team at CHES have placed a number of blockbuster 
exhibitions, many  with very high sums insured.
In order to consider Exhibitions, insurers will need to know:
• Name of exhibition
• Organiser of exhibition
• Name of Insured / details of insured and experience
• Period of exhibition
• Venue(s)
• Total Values
• Breakdown of values split between fragile and non fragile
• Security at exhibition – for example guards, 
alarms,  temperature controlled and lock 
showcases
• Is transit required to/from the exhibition
• Pre and post condition report
• Previous losses
Jewellery and 
Gemstones
We provide solutions for a wide range of different operations within the 
industry, from  large multinational Jewellery Retailers and Diamond 
Wholesalers. The type of business  will include:
• Jewellery Retailers
• Watch Manufacturers and Retailers
• Diamond Dealers
• Wholesalers and Manufacturers
• Luxury goods retailers
• Pawn Brokers
• Diamond and Gemstone mining Operators
• Transporters
As well as placing individual accounts, we have experience in putting together 
covers for  third parties such as overseas Insurance Companies, including both 
binders and treaties.
Jewellery – Scope of 
CTheo Jveweellreras Bgloeck Policy is an "all risk" coverage, which means that the 
insurer must  specify what is not covered. If a risk is not in the list of 
exclusions, it is covered. Typical  risks that are covered are Burglary, Robbery, 
Shoplifting, Grab and Run, Trick Loss,  Substitution and Accidental Damage, in 
addition to the usual risks such as Fire.
For larger clients, we produce bespoke policies based on our clients 
needs and  requirements, which we have developed over the years.
Coverage is on a All Risks basis and can be extended for:
• Coverage for stock held in store windows
• Personal conveyance for stock in transit
• Stock on memorandum to third parties
• Stock whilst at employees homes
• Shipments of stock
• Exhibitions
• Wearing of items at events
• Earthquake
• Cutting and polishing of diamonds
Jewellery – Underwriting 
requirements
It is normal practice to ask the client to complete a full proposal form which 
will outline
details of the insured, which will include:
• Name/Address
• Retailer or wholesaler
• Types of stock, for example watches, jewellery or diamonds
• Sum Insured – for each location, window limit and amount out on 
memorandum
• Personal Conveyance – average and maximum amount carried, 
number of days  travelled
• Full security details – which will include details of safes, alarm and 
CCTV
• Claims details over the past five years
Once all the information has been considered, insurers apply rate to various 
aspect of the  coverage required to come to a final pricing.
For large volume business, for example smaller Jewellery Retailers, 
Reinsures would  consider placing a binder or treaty with set terms, rates 
and conditions.
General Specie and Cash in 
Transit
This area includes coverage for cash, gold and other valuables companies 
such as:
• Cash in Transit Companies
• Cash Counting Operations
• Vault coverage for Banks
• Safe Deposit Vaults
• Automatic Teller Machine (ATMs) operators
• Gold and Precious Metal Traders
• Precious Metal Refiners
• Precious Metal Mines
• Rare Metal dealers
• Cheque Cashers
General Specie – Underwriting 
Requirements
Whilst of some classes a standard proposal form is available, with other areas 
it is more  common to ask individually tailored questions to the risk in 
question, the general  information that will be needed includes:
• Name and address of client
• Operation details / activity types
• How long has the client been in business
• Sum Insured per location / any one transit
• Total annual shipments
• Territorial limits
• Gross revenues
• Security at premises
• Vault / safe details
• How are staff screened
Loss Prevention and 
Claims
Not every risk we write is surveyed, however, when needed our network of 
risk surveyors  are able to work with our clients to manage and reduce risk.
Surveyors are on occasion appointed to visit the client to discuss possible 
improvements  in risk management.
If a claim does occur we have a dedicated claims team, who have a proven 
track record
of settling all types of losses, from the small to the large and complex.
Contact 
Us
Rachana Patel  Emily Newell 
Senior Underwriter  Underwriter
416 559 7297 647 480 1534
rachana.patel@chesspecialris emily.newell@chesspecialrisk
k.ca .ca
Thank 
you
.